Sandy Spring Bancorp (NASDAQ:SASR) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Sandy Spring Bancorp (NASDAQ:SASR) in a research report issued to clients and investors on Saturday. The firm set a “sell” rating on the bank’s stock.

Sandy Spring Bancorp Stock Performance

Shares of Sandy Spring Bancorp stock opened at $30.94 on Friday. The firm’s 50-day simple moving average is $35.84 and its 200-day simple moving average is $31.93. Sandy Spring Bancorp has a 1 year low of $19.52 and a 1 year high of $39.55. The firm has a market cap of $1.40 billion, a PE ratio of 16.28 and a beta of 0.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.02 and a current ratio of 1.02.

Sandy Spring Bancorp (NASDAQ:SASR) last issued its earnings results on Monday, October 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Sandy Spring Bancorp had a return on equity of 5.71% and a net margin of 11.54%. The business had revenue of $189.81 million during the quarter, compared to the consensus estimate of $101.60 million. During the same period in the prior year, the business earned $0.62 EPS. Equities analysts forecast that Sandy Spring Bancorp will post 1.85 earnings per share for the current fiscal year.

Institutional Trading of Sandy Spring Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its position in Sandy Spring Bancorp by 9.8% in the second quarter. Commonwealth Equity Services LLC now owns 13,176 shares of the bank’s stock worth $321,000 after purchasing an additional 1,176 shares during the period. Rhumbline Advisers grew its position in Sandy Spring Bancorp by 3.2% in the second quarter. Rhumbline Advisers now owns 74,906 shares of the bank’s stock worth $1,825,000 after buying an additional 2,325 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Sandy Spring Bancorp by 18.5% in the second quarter. American Century Companies Inc. now owns 775,252 shares of the bank’s stock valued at $18,885,000 after buying an additional 120,996 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Sandy Spring Bancorp during the 2nd quarter worth $117,000. Finally, Inspire Advisors LLC acquired a new position in shares of Sandy Spring Bancorp in the 2nd quarter worth $217,000. Institutional investors own 66.90% of the company’s stock.

Sandy Spring Bancorp Company Profile

Sandy Spring Bancorp, Inc operates as the bank holding company for Sandy Spring Bank that provides commercial and retail banking, mortgage, private banking, and trust services to individuals and businesses in the United States. It offers financial products and services, including various loan and deposit products.